The pair is stable below the Exponential Moving Average 20, while the slight incline seen was able to relieve the positivity seen on Stochastic, which is currently approaching oversold areas. We expect the pair to extend the downside movement, where the pair is affected by the descending channel shown above on the chart. Consolidation below 1.3000 again should support the pair to extend the bearishness.
The trading range for today is among the major support at 1.2790 and the major resistance at 1.3160.
The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135
**New York Candlesticks**
|Recommendation||Based on the charts and explanations above, our opinion is selling the pair below 1.3045, and take profit in stages at (1.2875 and 1.2790) and stop loss with 4-hour closing above 1.3080 might be appropriate|